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Former Marathon Oil research facility to become mixed-use village

The former Marathon Oil research facility in Littleton has been sold to a developer who is planning the suburban city's largest mixed-use project on the 77-acre site.

The parcel at 7400 S. Broadway was sold to WIP Littleton Village LLC for $21.5 million, according to Newmark Grubb Knight Frank, which represented the seller in the transaction.

The property is bounded by East Geddes Avenue on the north, East Dry Creek on the south and South Broadway on the west. It has been vacant since Marathon Oil closed its doors in 2000.

Approved plans for the site call for 250,000 square feet of retail and office space and 900 residential units, including a mix of single-family and multifamily homes. It will have more than 13 percent open space with a 3.5-acre "Central Park" in the middle of the village.

Littleton Mayor Debbie Brinkman said Littleton Village is a "game-changer."

"This is really important for us," she said.

For the first time in years, she said, single-family residences will be built in the city to attract an influx of families.

Moreover, she said, Littleton Village will be just down the block from Littleton Adventist Hospital, at 7700 S. Broadway.

"The hospital is absolutely ecstatic," Brinkman said.

Village residents will be able to walk or bike to their local employment, including the hospital, she said.

In addition to people in the residences, there will be an array of restaurants and retail businesses that will help Littleton's economic and tax base, said the mayor.

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WIP Littleton Village is part of California-based Watt Investment Partners.

Dean Pentikis, managing partner of Watt Investment, said: "We are excited to be moving a project forward that has been through several evolutions over the years.

"We believe it's a great opportunity to be able to finally see it through."

Brinkman said the property, which has been fenced off from the public, is environmentally sound and ready for instant development.

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